Rohm and Haas deal relieves pressure for Dow divestments

09 March 2009 23:25  [Source: ICIS news]

HOUSTON (ICIS news)--Dow Chemical's settlement with Rohm and Haas will relieve pressure to sell off its assets, including Dow's profitable agrosciences segment, CEO Andrew Liveris said on Monday.

"Even though we talked about Dow Agrosciences the last time, I'm now making that a very soft statement," Liveris said in a conference call. "That's a strategic asset to Dow."

Liveris said: "If there's a buyer out there who's willing to pay the strategic price, then we'll definitely talk. But right now, we don't have to sell it."

In addition, Dow is in talks with two state-owned oil-and-gas enterprises that are interested in buying Dow's basic segments, Liveris said. He did not identify the enterprises.

However, any progress will take more than two quarters, he said. Moreover, Dow is still active partners with Kuwait.

"We see that they do really want to do this deal in some form," Liveris said.

Dow had initially planned to spin off those basic segments into a proposed joint venture with Petrochemical Industries Co (PIC) of Kuwait. However, the deal fell through.

For more on Dow or Rohm and Haas visit ICIS company intelligence
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By: Al Greenwood
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